The Federal Competition and Consumer Protection Commission (FCCPC) has recently approved more loan apps in the country.
As a result, the list of companies that have received this approval now stands at a total of 211. The 211 companies comprise 172 that have received full approval from the FCCPC and 39 others with conditional approval.
The recent approval suggests that these digital lenders have met the necessary regulatory requirements.
The expansion signifies increased access to loan and credit options for Nigerian consumers, which will significantly benefit them.
Also, this expansion carries potential implications for consumers and the industry as a whole. On the consumer side, it signifies that there may be a wider array of options available for obtaining loans and accessing credit, which can be beneficial for individuals seeking financial support.
Additionally, the increased competition among these approved companies could lead to more competitive interest rates, terms, and services, ultimately offering consumers better choices and potentially driving improvements in the lending industry.
For the financial technology and lending companies themselves, gaining approval from regulatory bodies like the FCCPC is a significant milestone. It shows their adherence to the necessary legal and ethical standards, which can enhance their credibility and trustworthiness in the eyes of both consumers and investors.
Meanwhile, the number of loan apps under the FCCPC watch has increased from 55 in September to 84 as of October, due to unethical practices.
Some of these apps include; Cashlawn App, Easynaira App, Crediting App, Yoyi App, Nut Loan App, Cashpal App, Nairaeasy Gist Loan App, Camelloan App, Nairaloan App, Moneytreefinance Made Easy App, Cashme App, Secucash App, Creditbox App, and Cashmama App.
Aside from those on the watchlist, the consumer protection watchdog said, it has partnered with Google to delist a total of 45 loan apps from the Google Play Store, which comprises apps found operating illegally in the country.
The FCCPC chairman Mr. Babatunde Irukera had hinted that the commission would continue to engage with Google to clarify how and why apps that have not received relevant regulatory approvals are available on Google’s Play Store.
This is to note that only Digital Money Lenders (DMLs) that have been subjected to regulatory scrutiny and compliance evidenced by written approval from the commission will be allowed on the Play Store.
X owner Elon Musk has announced a plan to make Grok, the AI assistant that he launched in July, a part of X Premium+, urging users to sign up.
Early Friday, Musk announced that xAI would unveil Grok to a “select group” on Saturday, November 4. However, in a subsequent tweet later in the evening, Musk clarified that all subscribers to X’s newly launched Premium Plus plan, which is priced at $16 per month and offers ad-free access to X, would gain access to Grok “once it transitions out of the early beta stage.”
The @xAI Grok AI assistant will be provided as part of ? Premium+, so I recommend signing up for that.
The Tesla CEO, who has been critical of OpenAI over ChatGPT, which he said was not developed as planned – created Grok as an alternative. Musk who accused ChatGPT of going woke among other things, has a plan to incorporate Grok into X as part of his plan to make the social media platform ‘everything app.’
The new AI model has recently been trademarked, and it promises to take conversational AI to the next level. Much like ChatGPT and similar text-generating models, Grok is designed to answer questions conversationally. It taps into a knowledge base similar to the one used to train ChatGPT, which provides it with a wide range of information to draw from when responding to queries.
What sets Grok apart is its emphasis on “real-time access” to information. Musk has indicated that the model has the ability to access and retrieve up-to-date information on various topics. This real-time information retrieval capability is a significant step forward, as it ensures that Grok can provide accurate and current responses to user queries.
Additionally, Grok shares another feature with models like ChatGPT – internet browsing capabilities. This enables the AI to browse the web, just like a human, in order to search for and fetch the most recent and relevant information.
In a series of posts on Saturday, Musk shared some capabilities of Grok, which differentiate it from other AI models, particularly ChatGPT.
Musk suggested that Grok might decline to respond to certain inquiries of a more sensitive nature, such as requesting a step-by-step guide on making cocaine. Based on a screenshot, the model’s response to that specific question appears to be somewhat more playful or tongue-in-cheek compared to ChatGPT’s responses. It remains uncertain whether this response is a pre-programmed canned answer or if the system is genuinely, as Musk claims in a tweet, “designed to inject a bit more humor into its responses.”
Grok has real-time access to info via the ? platform, which is a massive advantage over other models.
It’s also based & loves sarcasm. I have no idea who could have guided it this way ???? ? pic.twitter.com/e5OwuGvZ3Z
This capability is crucial in a rapidly evolving world where information is constantly changing. It ensures that Grok remains at the cutting edge of knowledge, making it a valuable tool for staying informed about the latest developments in various fields.
The introduction of Grok into the AI landscape is likely to have far-reaching implications, not only for enhancing conversational AI but also for providing accurate, up-to-date information on a wide range of subjects. As technology continues to advance, AI models like Grok are pushing the boundaries of what’s possible in natural language understanding and information retrieval.
Though its rollout is expected to disrupt the AI status quo, there is not much known about the AI model now.
In September, Larry Ellison, co-founder of Oracle and a self-proclaimed close friend of Musk, disclosed that xAI had entered into a contract to train its AI models on Oracle’s cloud platform. However, xAI itself has not revealed any specifics about the inner workings of its AI models or the specific tasks they have been designed to accomplish.
Elon Musk first introduced xAI in July, accompanied by the grand vision of creating AI that could “understand the true nature of the universe.” The company, under Musk’s leadership and with a team comprised of experts from prominent organizations like DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto, has been advised by Dan Hendrycks, the director at the Center for AI Safety, an AI research nonprofit.
Additionally, xAI has formed collaborations with other companies within Musk’s expansive portfolio, including Tesla.
In an interview with Tucker Carlson in April, Musk expressed his desire to build a “maximum-truth-seeking AI.” The question that arises now is whether Grok, Musk’s recently trademarked AI model, is a realization of this aspiration or merely a stepping stone towards a more profound AI endeavor.
Elon Musk predicted that human work will become obsolete as artificial intelligence progresses, calling it “the most disruptive force in history.” Speaking with U.K. Prime Minister Rishi Sunak late Thursday, the owner of Tesla, SpaceX, social media platform X and the newly formed AI startup xAI said “there will come a point where no job is needed” as AI does everything. It came just after world leaders at the AI Safety Summit in Bletchley Park signed a global declaration on the risks AI poses, with even the U.S. and China agreeing to seek consensus on its development. Instagram is currently working on an “AI friend” that users can customize, from ethnicity to personality.
It appears that many leaders and indeed even some of the general public, do not fully understand the role of a current affairs interview/show chat host. I’m talking here in particular of Rufai Oseni, who has come in for a barrage of criticism recently.
Oseni has regularly lambasted governance, and in particular the use of a divisive repeat slogan (‘let us breathe’) allegedly mocking the plight of Nigerians, in particular amidst hardships around fuel price and forex problems.
I’m not making a political statement here, but merely pointing out the nature of the current affairs interview/show chat host environment, and the intensive live probing nature that goes with the territory. I’m not sure what some people expect when they go on Rufai Oseni for a live show.
Nigeria hails itself as a democracy, and if someone seeks engagement with a submissive TV channel, perhaps they should have become a politician or public servant in China, North Korea or Russia instead.
If anything, Osenis’ style is lenient when compared to peers in democracies elsewhere. Anybody that saw Stephen Sackur on Hard Talk (UK) with Joice Mujuru, the former Zimbabwean vice-president, will know that he didn’t mince his words.
Now, those that like to score social media metrics, by appealing to sectarian rhetoric sponges, came out on a prejudicial note, fuelled by the obvious ethnic divergence between Sackur and Mujuru…
… but as Prof. Ndubuisi says in a Nigerian context, before reading me (my content) you have read ‘Ndubuisi’.
Mujuru fell out with (then President) Robert Mugabe in 2015 and created her own party …But… How could she claim to champion freedom and democracy when she had been Mugabe’s cabinet ally most of her adult life? How could she avoid responsibility for Zimbabwe’s economic collapse, or the Gukurahundi massacre of 20,000 civilians, or the destruction of hundreds of thousands of slum dwellers’ homes?
Why was Zimbabwe’s biggest diamond field known as “Mrs Mujuru’s anthill”?
We do not get powerful people to acknowledge their contribution to bad actions by wasting airtime with ‘fandom’ interviews that stroke their egos.
When coming on this kind of show, participants must realize some things.
It does not matter if you are the leading global entertainer, the leading global sportsperson or the President of the most powerful nation on earth.
You are stepping into a Lions Den, and newsflash – You are not the Lion!
Most things go wrong when interviewees don’t control their ego, and let their ego, pride and vanity control them. You have to understand you attend as a ‘small’ boy or girl, not as an Oga or Madam. This countenance needs to be instantly impacted upon the interviewer – powerful Nigerians suck at this. In this ‘land’ that will last only the length of the airtime, you need to accept you ‘junior’ the interviewer, even if you have title, position, and are old enough to be their grandfather or mother.
Some people are really good at handling situations where interviewers or show hosts have unorthodox or combative engagement styles.
A great example of this is the interview for charity between Sacha Baron Cohen and the celebrity couple David and Victoria Beckham (commonly known as ‘Posh and Becks’). Baron Cohen plays a number of fictitious characters, the most famous being ‘Ali G’.
He conducted the interview of Posh and Becks while in the character of Ali G.
Being a known celebrity and handling the unknown situations that comes from Baron Cohen’s bizarre ad lib while in the ‘Ali G’ character is not easy. My personal favourite as a rebuttal, is when ‘Ali G’ provoking Victoria asks (about her son) ‘Do you want him to grow up to be a footballer… like his Dad.. or a singer… like Mariah Carey? … and she calmly answers –
‘I’d like him to grow up to be a footballer like his Dad… and I’d like to grow up to be a singer, like Mariah Carey!’
In the more serious sphere, I’ve seen some people handle quite hostile interviews very well… The best I’ve known (names that most people would know) would be ex US President Barrack Obama, UK ex-Prime Minister Tony Blair, and ex UN Secretary General, Kofi Annan. This is not otherwise a reflection of their professional performance necessarily.
Leaders can do their homework and understand the engagement style of a host before agreeing to become a guest on a show or current affairs program.
There is a difference between being direct and candid on the one hand to being rude and offensive on the other. I can’t say I have watched all Rufai Oseni interviews, but from what I have seen, I can see no evidence of the latter.
However, it is important we recognise that people in Rufai Osenis’ position have a duty of service to the Nigerian citizenry. If guests come on the program with cases to answer, then there are questions to be put. It isn’t rude to put them.
To not put them, would be a case of Rufai Osenis’ failing the Nigerian public.
An article in Peoples Gazette however, has claimed all media personalities in Nigeria are politically partisan. ‘… people who sing Osenis’ praises are overt or covert Obi supporters and those who are censorious of his journalism are overt or covert Tinubu supporters’.
To what extent this is true, remains to be seen.
I do not see any problem with his conduct. He is not there to shrug his shoulders and say ‘It is well’.
The public already fulfil that role en masse
9ja Cosmos is here…
Get your .9jacom and .9javerse Web 3 domains for $2 at:
tribuneonlineng.com/i-think-like-a-scientist-not-as-a-partisan-person-rufai-oseni/ lindaikejisblog.com/2023/7/let-us-breathe-its-not-funny-arise-tv-host-rufai-oseni-berates-nigerian-senators-for-mocking-poor-and-suffering-nigerians-2.html en.wikipedia.org/wiki/Sacha_Baron_Cohen en.wikipedia.org/wiki/HARDtalk 20 years of HardTalk video: youtube.com/watch?v=tzDgWBy9acg youtube.com/watch?v=wjRj9nBGaAE Kofi Annan in 2018 thecable.ng/rufai-oseni-nigerian-presidents-are-like-monarchs-theyre-hard-to-unseat gazettengr.com/farooq-kperogi-partisan-comparisons-of-channel-tvs-seun-and-arise-tvs-rufai
Cristiano Ronaldo will remain the player with the highest UEFA Best.
UEFA and France Football have announced a historic agreement to merge their prestigious individual awards, the UEFA Best Player and the Ballon d’Or, into a single trophy. The new award, which will be called the UEFA Ballon d’Or, will be presented annually to the best player in the world, based on their performances in club and national team competitions.
The decision to unify the two awards comes after years of debate and controversy over the criteria and voting process of each one. The UEFA Best Player, which was created in 2011, was awarded by a jury of journalists and coaches from UEFA’s 55 member associations. The Ballon d’Or, which dates back to 1956, was originally given by France Football magazine to the best European player, but later expanded to include players from any continent. The voting was done by a panel of journalists from around the world.
The UEFA Ballon d’Or will aim to combine the best aspects of both awards, while ensuring transparency, fairness and recognition of the players’ achievements. The voting will be done by a combination of journalists, coaches, former players and fans, who will each have a weighted share of the final result. The award will also take into account the players’ individual and collective statistics, as well as their impact on the game and their social responsibility.
The criteria for voting will be based on a set of indicators that will measure the players’ performance in different competitions and categories. For example, the number of goals scored, assists provided, trophies won, minutes played, etc. The indicators will be adjusted according to the position and role of each player on the pitch. The voting panel will also evaluate the players’ contribution to their teams’ style of play, their leadership qualities, their fair play attitude and their influence on the football community.
The first edition of the UEFA Ballon d’Or will be held in December 2024, and will cover the period from July 2023 to June 2024. The ceremony will take place in Paris, the home of France Football, and will be broadcast live across Europe and the world.
The creation of the UEFA Ballon d’Or will have a significant impact on the history and prestige of individual awards in football. It will also have an immediate effect on one of the most decorated players of all time, Cristiano Ronaldo. The Portuguese star, who currently plays for Manchester United, has won the UEFA Best Player four times (2014, 2016, 2017 and 2021), more than any other player. He has also won the Ballon d’Or five times (2008, 2013, 2014, 2016 and 2017), equaling Lionel Messi’s record.
With the UEFA Best Player award being discontinued, Ronaldo will remain the undisputed holder of that title forever. He will also have a chance to add to his Ballon d’Or tally with the new UEFA Ballon d’Or, which will recognize his achievements in both European and global competitions.
Ronaldo, who is 38 years old, has shown no signs of slowing down his remarkable career, and is still scoring goals and breaking records at the highest level. He is widely regarded as one of the greatest players of all time, and his legacy will be further enhanced by this historic change in football’s individual awards.
One of the main questions that arises from this change is how it will affect FIFA’s The Best award, which is another individual award that claims to honor the best player in the world. FIFA’s The Best was created in 2016, after FIFA ended its partnership with France Football for the Ballon d’Or. FIFA’s The Best is voted by national team captains and coaches, selected media representatives and online fans.
FIFA’s The Best has been criticized for being inconsistent with other awards and for having a questionable voting system. For example, in 2018, Luka Modric won FIFA’s The Best after leading Croatia to the World Cup final and winning the Champions League with Real Madrid. However, he finished second behind Modric in both UEFA Best Player and Ballon d’Or voting.
In 2019, Lionel Messi won FIFA’s The Best after having an outstanding season with Barcelona but failing to win any major trophy with Argentina. However, he finished second behind Virgil van Dijk in both UEFA Best Player and Ballon d’Or voting.
The emergence of the UEFA Ballon d’Or may further undermine FIFA’s The Best credibility and relevance. If both awards have similar criteria and voting panels, it is likely that they will have similar results. In that case, FIFA’s The Best may be seen as redundant or inferior to UEFA Ballon d’Or. If both awards have different criteria and voting panels, it is likely that they will have different results. In that case, FIFA’s The Best may be seen as inconsistent or biased compared to UEFA Ballon d’Or.
FIFA may have to rethink its strategy and approach for its individual award. It may have to find a way to differentiate itself from UEFA Ballon d’Or, or to collaborate with UEFA and France Football to create a unified and harmonized award system. Otherwise, FIFA’s The Best may lose its prestige and appeal among players, fans and media.
The Minister of Budget and National Planning, Atiku Bagudu, has stressed that the controversial Yacht purchase in the 2023 supplementary budget was not intended for President Bola Tinubu’s personal use.
The Minister, in a press briefing on the sidelines of a retreat for ministers and presidential aides at the State House in Abuja, refuted claims that personal interests were woven into the supplementary budget for President Tinubu.
The Minister staunchly defended President Tinubu’s commitment to a modest lifestyle, highlighting his previous residency in a three-bedroom apartment in Abuja before his election in February 2023. In his statement, he underscored that the President had always prioritized his achievements over personal comfort.
“President Tinubu has always told us his team that he is happy with all he has achieved in life; personal comfort does not matter to him. Before he was elected president, he stayed in a three-bedroom apartment in Abuja. He lives a modest, humble life. So to suggest that something was put in the budget for his comfort is ridiculous,” the Minister asserted.
Bagudu also provided insights into the allocation of funds in the supplementary budget, clarifying that 30% was designated for the security sector, with the remainder earmarked for infrastructural development.
“President Tinubu during the campaigns repeatedly emphasized the urgency to tackle security. Not surprisingly, 30% of the supplementary budget is allocated to the defense sector. Equally, he has spoken about the need to support vulnerable populations and keep promises; 30% of the supplementary budget is also allocated to palliatives, with N400 billion for cash transfers and N200 billion for cash awards. Additionally, about 25% of the supplementary budget is allocated to infrastructure. In total, approximately 85% is dedicated to these three areas,” he stated.
The Minister acknowledged the controversy surrounding the Navy’s description of a yacht in the budget but emphasized that, in a budget of N2.2 trillion, the overwhelming majority was deemed acceptable.
“The mischaracterization or controversy that followed from the way Navy described the ship has unfortunately generated a controversy, but if out of a budget of N2.2 trillion, 95% of it is okay, I think President Tinubu should be given credit for it,” he concluded.
President Tinubu’s dedication to addressing key issues such as security, support for vulnerable populations, and infrastructure development was reiterated by Bagudu as the primary focus of the supplementary budget, dispelling claims of personal gain in the budgetary allocations.
However, this assertion has been countered by many, who believe that the minister is making an attempt at ‘damage control’ after the extravagant allocations; inserted into the 2023 Supplementary Appropriation Bill were exposed.
The opposing claims are primarily grounded in the fact that the controversial N5 billion yacht and others are included in the federal budget, with a specific line item designated for “Presidential” use. Additionally, the supplementary budget was formulated by the federal government, specifically the Executive branch headed by the president.
Given Bagudu’s reputation for corruption, it comes as no surprise to many that these events are unfolding. Bagudu is notorious for his involvement in assisting the former Nigerian Head of State, General Sani Abacha, in embezzling and laundering billions of dollars belonging to the state.
